Pool Corp (POOL-Q) Quote

Highlights

— Record net sales for Q3 2020 with both overall and base business sales growth of 27%

— Q3 2020 diluted EPS increase of 50% to a record $2.92, or excluding tax benefits in both periods, an increase of 47% to $2.71

— Record cash provided by operations of $388.9 million, an increase of $145.7 million from the first nine months of 2019

— 2020 earnings guidance increased to $8.05 – $8.35 per diluted share or $8.20 – $8.50, excluding non-cash impairments recorded in Q1 2020, from previous $6.90 – $7.30 range or $7.05 – $7.45, excluding impairments

Pool Corporation (Nasdaq/GSM:POOL) today reported record results for the third quarter of 2020.

“I could not be happier with the truly outstanding results that we reported for the third quarter. Consumer spending on outdoor living products remained strong, and our team continued to execute at a very high level, which resulted in stellar results this quarter across a broad range of operating metrics,” said Peter D. Arvan, president and CEO. “In addition, as part of our strategic growth initiatives, we further expanded our network through two acquisitions, Northeastern Swimming Pool Distributors, Inc., which closed on September 11, 2020, and Jet Line Products, Inc., which closed on October 1, 2020. These businesses bring solid teams that have excelled at building exceptional customer relationships, and we are excited to have them join the POOLCORP family.”

In the third quarter of 2020, net sales increased 27% to a record $1.14 billion compared to $898.5 million in the third quarter of 2019. Our sales benefited from continued elevated demand for residential pool products, driven by home-centric trends influenced by the COVID-19 pandemic, as working from home becomes routine and families create and enjoy safe social and entertainment alternatives in their own backyards. We realized broad sales gains across many product categories, as maintenance, replacement, refurbishment and construction activities across most geographies were strong.

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